For loans up to 75% of property value
|Product name||Offset discounted SVR - 2 years Interest Only - Loans over £1m|
|Initial rate expires on|
31st March 2021
|Rate thereafter||Standard Variable Rate, currently |
|Overall cost for comparison||5.0% APRC|
|Option to add arrangement fees to mortgage||Yes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type|
Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required
|Maximum loan amount||£2,000,000 - maximum LTV 75%|
£3,000,000 - maximum LTV 70% (no more than 65% LTV to be Interest Only)
Loans Over £3,000,000- maximum LTV 60% (no more than 55% LTV to be Interest Only)
|Maximum loan to value||75%|
|Minimum loan amount||£1,000,001|
|Early repayment charge||3% in year one|
2% in year two
|Special offers||Remortgage: Legal fees and valuation paid for remortgages only #|
At the end of the discounted period you can make extra payments or repay your whole mortgage without penalty.
Link up to six Yorkshire Bank current and savings accounts to save on interest payments and repay your mortgage early.
You can even combine your business credit balances – available to sole traders and simple partnerships (two or more people in business and with their mortgage together; for example, a husband and wife or civil partnership couple).
# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package. When using products available for mortgages over £1m which benefit from the switching package incentive, the switching package is enhanced to allow one free valuation for properties worth £3m or less (standard free legals remain limited to properties worth £2m or less).